Gresham House plc Interim Results

Gresham House plc Interim Results 2022

Assets under management (AUM) rose 11% to £7.3 billion, driving an increase in adjusted operating profit to £13.2 million and a continued increase in operating margin to 35%. We continue to deliver against our strategic and financial targets alongside our long-term client-led approach.

Watch CEO, Tony Dalwood and CFO, Kevin Acton discuss the results

Financial highlights

• Assets under management (AUM) up 11% in H1 to £7.3 billion
• Net core income up 61% to £37.2 million (H1 2021: £23.0 million)
• Adjusted operating profit up 91% to £13.2 million (H1 2021: £6.9 million)
• Adjusted operating margin improvement up to 35% (H1 2021: 30%)
• Return on capital employed (ROCE) of 15.5% on an annualised basis (H1 2021: 24.0%)

Strategic highlights

• International expansion continued through the acquisition of Burlington Real Estate in Ireland and the purchase of a forestry and carbon credit portfolio in New Zealand on behalf of an institutional client
• Gresham House Energy Storage Fund plc (GRID) expanded its investment policy to include international activity
• An increase in the number of institutional clients, building depth in our client base

Sustainability highlights

• Completion of a large-scale project to calculate the carbon footprint
• Awarded 4 or 5 out of 5 stars, for all modules in our 2021 PRI Report
• Met the expected standard of reporting to remain a signatory to the UK Stewardship Code

Chief Executive, Tony Dalwood said:

“Whilst we are cognisant of the challenging market environment, we are confident that momentum for our asset classes will be sustained into H2 as we continue to raise funds, make further profitable progress against our GH25 strategy and to deliver value to all our stakeholders.”

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Past performance is not a reliable indicator of future performance. Capital at risk. 

For more information contact:

Houston – Media and analysts

Kay Larsen and Joseph Burgess

gh@houston.co.uk  |  +44 (0)204 529 0549

Canaccord Genuity Limited – Nominated Adviser and Joint Broker

Bobbie Hilliam and Georgina McCooke

+44 (0)20 7523 8000

Jefferies International Limited – Joint Broker

Paul Nicholls and Max Jones

+44 (0)20 7029 8000